Giant Group, as the company is now known, saw a strong increase in sales and even bigger increase in profit for calendar year 2019.
Sales grew by 5.3% to NT$63.45 billion (A$3.4 billion). Net profit before tax rose by 13.3% to NT $4.81 billion (A$258 million).
The most important growth drivers of Giant Group’s 2019 financial year were e-bike sales in Europe and the recovery of the previously sluggish bicycle market in China. In terms of Giant’s own brand sales (Cadex, Giant, Liv, Momentum) in local currency, Europe outperformed all other markets with double-digit growth over 2018. This includes an increase in e-bike sales of over 40 percent.
Looking ahead to 2020, the uncertainties in the global economy present Giant Group with many challenges. According to Giant Group they will, ‘continue to monitor the development of the virus situation and adapt proactive measures to minimise any impacts on Giant’s global business operation’.
Giant was set to officially open their new global head office in Taiwan this March, but the opening was delayed due to the cancellation of the Taipei International Cycle Show and related non-attendance of international media.
This information was sourced from Bike Europe and Bicycle Retailer and Industry News.